Bitwise, the crypto asset manager, has cut 14% of its staff, the company said this week. The layoffs come as several major crypto firms, including Coinbase, BitGo, Robinhood, Polygon, and Pump.fun, have announced workforce reductions this year. Bitwise still expects to grow despite the cuts.
Why the cuts
The company pointed to shifting priorities toward artificial intelligence and broader market forces. It's a familiar story across the industry this year. Firms that expanded fast during the bull run are now tightening belts, and AI has become the new spending priority.
Bitwise didn't say exactly how many people were let go, only that the reduction amounts to 14% of its workforce. The company framed the move as a repositioning rather than a retreat.
The broader trend
Bitwise isn't alone. Coinbase, BitGo, Robinhood, Polygon, and Pump.fun have all announced workforce reductions in 2026. Each has cited its own mix of reasons, but the pattern is consistent: cost discipline, a pivot to AI, and a market that no longer rewards headcount growth.
For Bitwise, the cuts come at a time when the firm is still pushing forward with new products and expects to keep growing. That's a tricky balance, but the company says it's committed to it.
What happens next
Bitwise hasn't said whether more cuts are coming. The company's statement suggests this is a one-time adjustment, but with the industry still adjusting to AI and market pressures, nothing is guaranteed. The next few months will show whether the trimmed team can deliver on the growth Bitwise still expects.
